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cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking about a brief. the dollar is soaring
the fedotenko start scaling back its bond buying program at the end of the year if the economy continues to improve. his comments at the meeting shook the stock and bond market. it's greater optimism. the unemployment could drop to 6 point phone 5% in 2014. that's a year earlier than previously thought. they're still not concerned about inflation and think gdp might expand faster than 3% over the next two years. bernanke tried to draw a distinct line between tapering and the end of qe 2. >> the most important thing that i just want to convey again is that it's important not to say this date, that date, this time. it's important to understand our policies are economic dependent. >>> so coming from the fed. equities sold off in the united states. you can see here just about 35, 40 stocks on the dow jones 500. ftse up 1 2/3. the pmi number. basic resources are the biggest seller. that comes off with china, hsbc pmi down at a nine-month low. new orders down. we're getting more on that from munich. the market reaction, this means commodities are weaker as well to date. spot gold down 3% this
the financial system and the economy did it exist to support. this is at the center of "masters of nothing," the book we're launching this week. because throughout her life, lady bacher passionately believe capitalism was not only the effect this form of economic organization ever invented, but also the most moral. today, the first of those points is almost undisputed and we should all be grateful to the market liberals of west and east, who in free the peoples of the former communist bloc restocked in turkey so liberated billions in china and india and indonesia in beyond, from grinding poverty and prove once and for all that free markets are the greatest source of prosperity ever known to man. but the free market is a world force of good is less well understood and its moral authority hinges on two crucial factors. first, free-market airfare because we were disproportionate to effort. when markets work, those who prosper and work hard and risk their capital to succeed in making other people's lives, their customers lives better. for most people, fairness is a form of reciprocity that she
the economy and improve relations with the west. >>> group of eight leaders are in northern ireland for their annual summit to discuss a wide range of issues including the conflict in syria. >>> "the guardian" newspaper says british agents spied on foreign politicians and officials in 2009 during a g-20 meeting in london. >>> iran's president-elect has held a news conference in tehran. hassan rouhani made a victory speech. he said his administration will rebuild the economy and improve relations with the international community. president-elect hassan rouhani held a news conference for the first time after winning majority of votes in friday's election. nearly 400 journalists attended. >> rouhani ime promised to improve the economy in relation to international. >> rouhani garnered 55% of more than votes. moderate and reformist groups came together to help him. but he'll have to work with hard-line conservatives if he wants to push his agenda forward as they occupy majority in the parliament. he'll be inaugurated in early august succeeded outgoing president mahmoud ahmadinejad. >>> l
is not only allowing inflation, but the fact that it won't come down. and now the u.s. economy has to take into account that and the move of rates and the 1.5% move in rates is a hard pill to follow. >> and scott n the last three or maybe four, the feds have come in, and they have said, i am short the 10-year and take a boatload and every year they are wrong, and perhaps now, but to this point, we are waiting for an appreciable move in rates for year and years and the fact that the economy may not stand on its own legs is curious to me. i am curious what you are hearing out there, as well, scott, in terms of the pain people are taking on the fixed income side, and those who are not short credit and obviously watching the equities sell off. >> the market, whether it is treasuries or equities, the market was probably hoping and probably against the better judgment probably that bernanke yesterday was going to sort of walk it back, and walk back the notion that they were going to mention taper org that -- tapering or going to do it any time soon and we know that the people you are talking abo
is in cities and metropolitan contraries because these are the engines of the economy, centers of trade and investment. top 100 metros so only one ace of the land mast, two-thirds of the population, three quarters of the gdp and on every indicator that matters, infrastructure and human capital and innovation. 75, 80, 85, 90% of the nations share. there really is no american economy. what we have is a network of metro economies and they're now stepping up and doing the hard work. >> but at the same time we all know that some of the toughest economic challenges are the state and local level. >> absolutely. but the great thing about metropolitan areas is they're not just governments. you know, the federal government is a government. state governments are government, metropolitan areas are networks. and we see that these networks are finding really creative and beneficial ways. >> rose: networks between what? >> networks of different companies, different philanthropic groups, different individuals, all coming together. they have loose or tight connections. and they can fund things more-- in
. and the double hit of the weak chinese economy and also the fed's tapering continue to weigh on this sector. back to you. >> thanks for that. let's recap what happened in the u.s. as well. selling off for a second day. dow, s&p 500 suffering their worst day of the year. dow down 254 points. highest one day percentage drop since last november. all 30 components down with 29 of the 30 dropping more than 1%. s&p had its worst one day percentage drop since november as well. november 2011, i should say. all ten s&p sectors were down more than 2%. 96% of the stocks listed on the benchmark index ended in the red. the vix, the markets fair gauged up more than 23% to its highest close since december. joining us for more, charles steeple, head of market strategy at lloyd's bank with us for the best part of the first hour today. good to see you. it's been described as sort of a big unwind of leverage. the thing that's striking about this, of course, actually what was the hedge yesterday that paid off? maybe if you were long in the vix. otherwise you were pretty much whammied. >> yeah. i mean, it's -- heads
much that is costing the european economy, european jobs, and the european government? guest: at the moment, we are asking our citizens to do a lot of sacrifice in order to adjust to the impact of the financial crisis. we cannot allow a number of people to escape, a number of people to evade their tax responsibilities. so, i think this was a powerful message from the g8. very much supported and initiated by the europeans to make sure that our tax system is assumes itsverybody responsibilities in terms of and that when we ask normal citizens to make sacrifices, we should at the same time ensure that any of the people that tries to escape this sanctions -- is sanctions. cooperation among states is an effective one, and this is what they discussed in the g8 and what we are implementing. we are happy to see that we are on the same wavelength with the americans. host: what about switzerland? is which alone one of those locations used as a tax haven? guest: switzerland is not part of the european union, but we have a solid relationship with switzerland. we made a number of agreemen
the measures taken by the u.s., eurozone and japan helped reduce risks to the global economy. economic activity and employment in most advanced nations have yet to recover. they also referred to the policies and challenges of certain countries. they said japan's economic growth will be supported by short-term fiscal stimulus and easing and the strategy for boosting sector investments. the leaders said japan will need to compile a medium term plan to improve the fiscal standing. prime minister abe announced other g 8 leaders said japan's economic recovery was positive for the global economy. >> translator: i told the other leaders that japan needed drastic measures like my three hours to call the country out on deflation. and the figures for production, consumption, and the job market have already improved. i told them we need to promote more growth strategies. the leaders approached me with various opinions, but i won their approval regarding japan's economic policies. >> u.s. markets ended higher after upbeat housing data boosted sentiments later today on tuesday. the dow jones gained nearly 3
, and the future in 30 minutes. talking about how you size up the economy today, how we got into such a bad place in 2008, and what economic policy makers need to do next. i would like to start talking about the present. how do you assess the global economy and the u.s. economy, and the extent to which there is any momentum or possibility for faster growth? >> basically, i would describe both the united states and the rest of the world as being in a sluggish environment where effective demand, if we can use that old-fashioned term, is inadequate to galvanize the system in the growth. yet there is not enough downside weakness to create any significant short-term changes that i can see. there are very huge imbalances out there. what i find startling is there are so many things -- which nothing is happening. for example, the european central bank had this huge trillion-euro rise a couple years ago of the assets in their balance sheet. then it came down a little bit. and for the last several months it has been absolutely flat. in other words, the extent to hich nothing is happening. it is just not cr
would need to see a more sustainable real improvement in the economy before we saw any reduction in his quantitative easing. if we look at recent economic data, ism manufacturing, with a reading below 50 to me, that's not necessarily an improvement in the overall economy. i think we can look through the announcement tomorrow. it will be hard. there will be some volatility. by and large i think it is more an issue of 2014. liz: but, edward, is it fair to say you wouldn't necessarily change your investment strategy on what the fed will or won't do? >> that's correct. we're a bottom-up stock-pickers. we're looking at individual securities that kind of have a technical profile that is attractive to us, a fundamental profile that is attractive to us. we may take advantage of some of the short term volatility trimming winners and taking advantage of some of the weakness. by and large we're looking over next 12 to eight teen months and think this is another ssdeshow. david: let me follow up on that and what liz was saying. what if bernanke says what the market really doesn't want to hear? the
of the day, which is creating jobs and turning the economy round. that's what the republican party needs to focus on, is getting us back on the right economic road to recovery and making sure americans remember we need to restore the american dream. our current administration is not about that. they're about saying sit back, we'll take care of you and allow you to live and we'll enable you to live a substandard life. we need to put the focus back on that. >> so, what is this all about? forgetting the american dream, common road. we're hearing all these kind of trigger words and language here. sarah palin you know being critical of the obama administration. no surprise there. but what is at the root of what this you know, freedom or this faith and freedom forum is all about in the first place and is it just preaching to the choir or is a message, a common message really resognating? reaching the conservative following? >> about a week before president obama's election in 2008, he said that we were a week away from fundamentally transforming america here, so what's at stake is american exc
economy has done better. we build bigger, stronger fences. john: as the border patrol now we are here? >> oh, yes. john: an hour later they showed up. >> filming a segment. i intend donald -- ten donnelly. john: after that the left them one. once more fences. >> is this your ideal fans? >> ts is good. it forces people w wantt to smuggle something to go to a high point where law-enforcement border patrol ents can easil see they have been interdicted. we ought t secure it. john: a problem with the current fans. >> here is this biggeffective miti dance. impervious, scalable. then all the suddenn it just hands. is right here is absurd. >> despite the billions we have spent, there are still lots of balls in the fen. especially the older part. >> ts looks like a pretty good-sized already your. >> this is an area that we have volunteers who came down with welding track and well that up these holes. i mean, it is patchwo. >> i'm touching mexico. john: not that hard to get over the fence. drug dealers build ramps. this carappens to get stuck. kennedy found it was pretty easy to climb the fence
on the economy but signaled this in no way means rates will go up. that led to a bit of a swoon in stocks during the session yesterday. the dow gave up more than 100 points. robin harding, who wrote the article, then took to twitter to tell everyone to chill out. he later defended his piece on cnbc's "fast money." >> the fed has a one-week blackout during which it doesn't say anything to anybody. so, people need to react to the content of the story rather than the existence of the story. and what i've seen happening today, and i think we saw it happening last week, too, is the market was reacting as if there's some secret bat signal coded here. >> asked if the article was timed for the greatest market impact, harding says he has nothing to do with that, that "the ft" sends out pieces when they write them. i mentioned mr. draghi as well. he says the ecb is looking at negative to positive rates with an open mind and with all intended consequences, rates becoming more effective. again, another measure we looked at on the considered possibility of having a break on deposit facilities, speaking in je
for us in germany and in europe of which would be a great project between the two largest economies in the world is the free trade agreement. i am very glad we started to talk about this. i want to say for the german side that we are committed to it. both economies will benefit from it and it would also add nursemaid to the global world -- nourishment to the global world. >> obama made his speech in front of us liked crowd of vips and students. he remains better liked than many foreign leaders. or than 80% of germans say they approve of his policies. >> a former university professor from the u.s. has been arrested days after making the fbi's 10 most wanted list. childfacing charges of exploitation and traveling to the philippines to have underage sex. the 64-year-old was arrested on the caribbean coast. fashion designers dolce and gabbana have been found guilty of tax evasion in italy. a court gave the two men and a suspended jail sentence and a fine for hundreds of millions of dollars -- for hiding hundreds of millions of dollars from tax authorities. italy, tax evasion never goes
and it makes the economy groechlt they say we are safer here. i continuing is an embarrassment and sends a message around the worl that the champion of liberty is move nothing the wrong direction and a bad step for the united states. >> steve, isn't there a danger of sitting back and letting the government decide? >> one of the legitimate functions of government is protecting us from external enemies and the constitution was written by framers who understood that governments that protect you can abuse you. take it out on the government. rich hit on something. if the company has in writing a certain order or request, and the statute is cited, the company is obligged to do it. if you don't like the law change the law. >> we want to stop the bad guys. companies can stop the government saying we are getting a ton of lawsuits on our doorsteps and in india, they are allowing tax officials with access to google and facebook data. >> the irs is different. >> india is pressuring to have government officials on-site at research in motion. >> by the way, hold on a second sabrina. why is the irs dif
, two, three, four, five times. john: four years ler, fewer cross illegally bause the mexin economy has done better. we build bigger, stronger fences. john: as the border patrol now we are here? >> oh, yes. john: an hr later they showed up. >>ilming a sment. i iend donald -- ten donnelly. john: after that the lef them alone. once more fces. is this your ideal fans? >> this is good. it forces peopleho want to uggle something too t to a highoint where law-enforcemement border patrol agents can easily see ey have been interdicted. we oug to secure it. john: a problem with t current fans. >> here is this biggeffective mitidce. impervious, scalable. then all the sudden it just has. this right here is absurd. >> d despite the billions we hae spent, there are still lots of balls in theence. especially the older pt. >> this looks like a prett good-sed already your. >> this is an area that we have volunteers who ce down with a weldg track and wl that u these holes. i mean, it is patchwork. >> i'm touching mexico. john: not thatard to get or the fence. drug dealers build ramps. this car happens t
the future of the economy. we are watching your money next. >>> also, rescue crews combing through the rubble of a collapsed building in india. we'll tell you about the desperate search for survivors. >>> the incredible video of a toddler falling from a building in china. . >>> how happy are you that it's friday? >> beyond words. >> we give you a live look outside at the bay bridge. a little red hue to this shot here. a super moon outside. you have to take a look. it looks like a giant egg in the sky. it's 4:43. >>> always nights to be at the end of the week. brace yourselves it could be a freakyriday on wall street. no doubt about it this one has been a very rough one for the markets, thursday the worst day so far as investors continue to be anxious about the looming end of the fed's stimulus program. that begs the question, what does this all mean for your money. kayla taush she is live at cnbc headquarters with a look at the market performance along with the impact possibly on your wallet. kayla, good morning. >> roller coaster ride not over yet. futures sharply higher which is good news.
: both sides are addressing the economy, to bring growth back. it is not easy. we are facing enormous challenges on both sides. we have different kinds of responses, different kinds of contacts in america. i think the common concern is to make sure the recovery is a sustainable one that we don't go in an up and down in terms of economic performance. i think we have established a few lines that are common. we need financial stability and we need to increase our competitiveness. we are facing enormous challenges in emerging economies. we need to adjust our economy for training and education and we need the skills in the job market. for the moment i think the g-8 has clearly identified that. we need to join efforts at the international level to create a right position. host: what needs to happen? guest: i think we need to consolidate our accounts and put our house in order in terms of the debt and deficit. that is crucial for our credibility of our efforts. at the same time, we need to invest in a new way, we need to create the sources of competitiveness for the future. so our economies
which will have a terrible impact on state and local economies. going back to when the government tries to implement compassion it will always be done on a political basis. i want to speed up because we want to leave time for discussion and our other panelists. i want to give you an example how this happens. i heard this great example. think about a mother who steals to feed her children. she goes to children. her children end up in foster care. we have sympathy and there is the terrible situation, where is the outcry for amnesty for such a person? where the outcry for family reunification for someone broke the law. it is not there? why? because she is not a member of desired political block people in washington trying to garner favor for. that is to go back to let individual discuss 19 we get mandate for compassion. go next to verse 34, right after the mandate that we exercise kindness to strangers, it also prohibits unjust weights and measures. that is what this bill is. it is an unjust weight and measure. we need to take the things into consideration. i could go on. this bill also, a
recovering in the housing market or the economy overall, i don't think they will do anything. connell: not so much we have come to terms, it is just we don't think it is going to happen. you would remain pretty optimistic about the stock market. >> i am. it actually targeted june 11 and 12th. i thought the backdrop was going to be out of the german constitutional court hearing objections to the constitutionality of the european stabilization mechanism. it turned out to be japan. maybe underinvested crowds pay up for investment reasons, and in the process of putting in a pop that would put in the first decent pullback this year the july, august timeframe. connell: we will need to see some sort of decent pullback. where is that??% what is the intermediate topic you're talking about? >> $16.87 on an intraday print high, the other downside reversal day simultaneously you hit the upside reversal in the japanese yen against the u.s. dollar causing some issues. will try do trade backup to that high. if we turn down, you will get a premature turn back but we should make a slightly higher high and som
the economy offset these gains in some of the financial sectors. shrugging off weakness in the mainland, property place outperformed hong kong helping the hang seng gain 1.2% today. the sector rebounded for the second session after very sharp selloffs recently. so we may be seeing some bargain hunting here. and elsewhere in australia, banking shares helped at the sx 200 reversed earlier losses ending higher by 0.7%. but under pressure, down 0.3%. and some of the southeast asian markets also trading in the green at the moment. back to you, ross. >> all right, catch you later. joining me in the studio, co-ceo of wells fargo financial services. american stocks down three out of the last four, this after good gains this year. is sentiment going to be shifting around now over the next few months as we question the fed and japan? >> undoubtedly we'll continue to see a lot of volatility. just look at this morning. we have the nikkei up 2.75%. today we have the futures up in the u.s. about 1% and within europe, about 0.75%. and i think we'll continue to see that. the question about japan is, do
weakness, and that's a weakness that will remind us that the actual economy doesn't support much higher interest rates like we had overnight, even though, ultimately, i know they will go higher. see, but this is what's been so unreal about this whole run-up in rates that's caused the stock market to get hit -- it hasn't been justified by the data. and i think monday, we will find it still isn't. thank heavens for bernanke, because if he had listened to the endless chattering hawks in the fed, i know we'd get a hideous number. all the numbers would be hideous. it's just always worth reminding, worth reminding everyone that bernanke's done amazing work, even as all i ever hear is that he's over his head or this must end badly. have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheet
to show weakness, and that's a weakness that will remind us that the actual economy doesn't support much higher interest rates like we had overnight, even though, ultimately, i know they will go higher. see, but this is what's been so unreal about this whole run-up in rates that's caused the stock market to get hit -- it hasn't been justified by the data. and i think monday, we will find it still isn't. thank heavens for bernanke, because if he had listened to the endless chattering hawks in the fed, i know we'd get a hideous number. all the numbers would be hideous. it's just always worth reminding, worth reminding everyone that bernanke's done amazing work, even as all i ever hear is that he's over his head or this must end badly. have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balanc
adopted several measures aimed .t used in the economy saudi arabia has announced .nother death and 81-year-old man died in the eastern province. six of the new cases have been registered. experts are nearing the end of a four-day meeting to discuss ways to tackle the virus. 70 cases have been confirmed worldwide. 39 people have died, 33 of them in saudi arabia. a humorous but hard-hitting political satire has become a box office hit on the sri lankan state. it's so popular, even the president came to watch. >> poking fun at politicians, it's brought hundreds of people, some as early as 6:00 in the morning, to queue for tickets. >> last time, i missed the tickets. i was there for about two hours, and when it came to my chance, they were sold out. >> seats for the first day of the show sold out and half an hour. 10 more were scheduled with some live assaults. >> i only go with the headline. editor has full freedom to decide. >> the show was created six years ago. it emerged after the title featured title role in another play drew the loudest laughs. ,his show has a loyal following although a
, that can put other things in motion too. bogota is home to over 8 million people. the economy is developing and increasingly people are demanding participation in that growth. buritica wants to inspire, help and encourage. the 27-year-old is attending a book fair in colombia's capital. one publisher has released a book about social enterpreneurs. many consider buritica a role model. he's using the opportunity to highlight the importance of networks. he says you can achieve more when you bring people from many different walks of life together. he began working with homeless people in bogota's historic centre a decade ago. he organised campaigns and cleared up misunderstandings. like many people in his network, he believes in helping people help themselves. >> the solution is in our own hands, no matter how minor the issue. it's just important to do something. we need to do something to change the lives of other people. but despite the seriousness of the issues, having fun is important too. tonight the global shapers are letting their hair down. but tomorrow they'll be back to the job of usin
with education is the cost routinely does this, it is the only area in the united states economy that has been exempt from the productivity magic in the last 20 years. because cost is doing this and quality is going nowhere in the education of the united states. we combined with georgia tech and the company and announced georgia tech will be launching a fully accredited program in computer science, a masters in which todayience. costs $40,000. next year, we will be introducing this degree for $7,000. i think $7,000 is high, but we can debate that. if the technical credential degree can be introduced at 20% of the cost, why cannot not be moved into secondary education, and why canication? that not be exported to sub- saharan africa and begin to introduce the highest quality education programs in the world entities developing economies. this is world changing, this democratizes education and is a major deal. it is a big deal. >> i am with georgetown, how are you? can you talk about video and how your video platform is doing? >> video is a wireless derived impact as well because when you look at
by the french and germans? >> on the economy it's pretty good. but there's a whole other part of discomfort, if you will, with some european leaders and it more has to do -- their reaction to president obama is just like any other politician's reaction to a politician that may not be as popular as they once were. president obama, the nsa things do not play well over here. there has been a frustration by some on the left in europe that president obama hasn't addressed the issue of climate change more aggressively. that's always been a much more important issue to europeans than it ever has been in the united states. and you sort of take all of that into account and so there certainly is -- you know, the shine has worn off. two years ago when president obama would come over here, you know, you know, figuratively throwing rose pe petals at his feet. he still has a huge audience a few hours ago in belfast for a speech he gave that was addressing northern ireland youth. he's going to get a huge number of people at the brandenburg gate when he makes that speech on the 50th anniversary of jfk spee
in history and perhaps the chairman that saved the economy from the second grade depression. like him? >> i think that there are other candidates out there that are very give to obama. one of the least popular candidate's co-op one which could be a very effective chairman to engineer a monetary turn would actually be larry summers. he has the intellectual credentials. he has the experience. he would be a good choice. i think a close runner-up would be someone that obama will look very favorable oo. lori: lots to keep our eye on tomorrow. you set us up beautifully. ashley: fed watch hitting the commodity markets today. phil flynn is in the pits of the cma. some may even argue that the physical demand is drying up a little bit because they are waiting to see what the fed says. it is not just the pressures battles. take a look at platinum. that, of course, is a major driver for demand of platinum. of course, copper is down big as well. there is also talk about the end of a line straight. bring on the fed. ashley: the play on gold -- >> i agreed with that. i think that the trade is very very ne
own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> our second story "outfront," held captive in ohio. so for the second time if two months we're hearing people being held captive against their will in ohio. this time, a woman and child allegedly held for two years. according to federal authorities, the disabled woman and her daughter were allegedly held in an apartment in ashland, ohio, where they were forced to eat dog food and treat
on cooperatives and the al terntive economy. there's no better magazine in the country than "yes" magazine to tell you there's a burgeoning alternative economy expanding in the united states locally controlled, not just co-ops, but community banks instead of city banks, credit unions instead of bank of america, farmer to consumer markets are 8,000 and growing all over the country, renewable energy locally, and many other local efforts that speak the strategy of displacement of large multinational corporations by getting their customers to move into the community economics world, and just a couple more, and then we can have a good discussion. i have columns on very enlightened ceos, and my favorite is the late ray anderson of interface corporation who decided in 1994 for the company's biggest carpet tile manufacturer in the world out of atlanta, georgia. i heard a lecture on industrial ecology by paul hopkins, and he was a man changed calling himself a recovering plundering of the planet. [laughter] and he swore he was going to turn his entire company around so that within 20 years or so, it would
the long time, provide an overall boost to the economy. the white house is talking about the forecast of $197 billion in savings over ten years, 700 billion the following ten. in the house, saying john boehner should be removed. mike emanuel shows us not all the ideas are popular with a lot of people. >> reporter: emotional disruption as the house judiciary committee took up a plan authorizing state and local police to enforce immigration laws. it is the most contentious of four stand-alone immigration bills in the house. >> we trust them to enforce laws ranging from capital murder to shoplifting. and everything in between. surely we can trust them to enforce immigration laws. >> reporter: critics say it would lead to racial profiling, unconstitutional arrests. >> this bill were to become law, we would expect as we saw eight years ago millions of american citizens taking to the street to demonstrate, to protect members of their family, members of their community from the wrong things that the bill would encourage. >> reporter: they crackdown on those seeking to be americans. >> they'r
critically on what is happening in the rest of the economy, that medicare cannot go off. >> i have heard the testimony, loud and clear. >> you can see the entire hearing at 9:22. ouret us not be blind to differences a less direct attention to our common interests. and the means by which those differences can be resolved. and if we cannot and our differences -- at least we can help make the world safe for diversity. everyone, no matter where they live is a citizen of berlin. ina free man i take pride the words "ich ben ein berlinner." different president kennedy and you see a different one again, who was preparing the ground for a real shot and the nuclear test ban treaty that was agreed to in the fall of 1963, and at the same time -- also building up defense and seeking a way to peace with this speech. >> looking back on the 50th anniversary of the speech -- at 7:30 p.m.. part of american history television. at the obamaook administration's policy on cyber security. we will hear from janet napolitano. this was hosted by the woodrow wilson center. this is about 120 minutes. >> so much for
into the economy but we know they're going to do it at some point but wall street is going to be reading between every line to get a sense of timing and nuance. rbc capital markets put it this way the markets will be looking for a distinction between applying less pressure to the gas pedal and hitting the brake. it's that balance that ben bernanke is trying to get right. and meanwhile there's speculation about who's going to succeed mr. bernanke. in an interview with charlie rose president obama said bernanke has already stayed a lot longer than he wanted or he was supposed to. ben bernanke's made no secret of the fact he wants to go home. >>> it has been 684 days since u.s. lost its top credit rating. what are we doing to get it back? there is more good news on housing. the government report shows the pace of home building rose 7%. >>> our fourth story "outfront" evidence mounting tonight against ex-mob boss james known as whitey bulger. prosecution star witness and former hit man john martorano took the stand again today. for the first time he said bulger wasn't just an accessory to murder but
? thousands of tax dollars. credits. stuart varney is here to weigh in. what's ruining the economy? >> for the rest of this entire decade, gas-powered cars will be cheaper to own and run than electric-powered cars. the two only balance out in the year 2020 if gas goes to $6 a gallon and you get a $7,500 permanent tax credit. that's the only way you'll balance out the two. that's it. >> i thought that expired, the $7,500 tax credit. >> a guy from the c.e.o., ronald geckin, the government's bean counters, they are the ones saying it. he's saying the two don't match. electric is not as cost effective as gas. that will be the same for the next six and a half years. >> that's for the driver. it's never been cost effective for the taxpayer. >> didn't you recommend these things? spoeupb i recommended they -- >> i recommended they turn the chevy volt into a gas-powered car. talk about the green movement. >> it's politics. this is a green car. green is a policy. green is all about politics. when it comes to economics, business, it simply doesn't work. it's not price competitive. by the way,
the world pump millions of dollars into the local economy here. so city officials are saying, look, if riders are careful and perhaps a bit more aware of the potential dangers, everyone should have a safe and memorable ride. jenna: they're really fun. i highly suggest it. as a native, just keep your hands inside the cable car. don't hang off of it. all right, claudia, thank you very much. jon: you probably had to ride one to high school, right? jenna: i actually rode one to work when i used to work downtown in san francisco, and it was great. jon: well, i'm sure. jenna: you just have to pay -- i mean, come on. come on. jon: hold on and keep your body inside the car, right? what is it about one 14-year-old's t-shirt that could have him tossed out of school and put in jail? a civil liberties case getting a whole lot of attention today. we'll look at it coming up. man: i know the name of eight princesses. i'm on expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for, because i'm raising two girls on my own. i'll worry about the economy more tha
'll stop. >> reporter: counterfits currently cost the economy $250 billion a year and 750,000 jobs. >> if counterfeiting were a business, it would be the largest enterprise in the world. twice the size of walmart. >> these are the real bags. these are the fake bags. how would i know? >> dead giveaway. this is the louis vuitton speedy bag. the speedy bags, the authentic speedy bags are made with one piece of canvas. if it's one piece of leather this part would be right side up, but the back because it goes up should be upside down so that's the dead giveaway. >> how much is this? >> this today i do 32. >> wow, that's a great price. >> yeah. >> reporter: i went down to canal street to see how easy it is to purchase one of these knockoffs. while this man was actually trying to sell us one of his illegal louis, even informed me of the new bill. >> they wanted to make a law that makes it illegal. >> so i would get it trouble. >> not now. it's very hard because most people don't want it because you know they want to enjoy the option to get it on the black market. >> reporter: the price p
. we start with the issue that matters most to our people, jobs, growth, many are economies. first we agreed each country needs to press on with sorting out its public finances. dealing with our dead and securing growth are not alternatives. the former is an essential step in achieving the latter. in fact, the communiquÉ we agreed unanimously reflects all three parts of the plan growth we have in britain. not just fiscal sustainability but active monetary policy to unlock the finest, the businesses and families need. and structural reforms to increase our competitiveness so that our young people can get into work and succeed in the global race. the uk's g8 also launched a bold new agenda to drive a dramatic increase in trade and to get to grips with the problems of tax evasion, aggressive tax avoidance and corporate secrecy. this was a distinctive british agenda to shape the way the world economy works for the benefit of everyone. we believe in free trade, private enterprise and low taxes is the best route to growth. that is only sustainable if ambitious trade deals on agreed, the ta
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